General Motors filed for bankruptcy protection Monday morning, and will be split over time into "new" and "old" companies with billions of new dollars in support from the U.S. government as well as the governments of Canada and Ontario.

GM CEO Fritz Henderson said at a press conference that the company would be leaner and more customer-focused when it comes out.

"We intend to offer you nothing less than best-in-class cars and trucks," Henderson said. "We look forward to the chance to win your business, and win back your trust."

> The largest automotive industry bankruptcy ever

> The 8th public company bankruptcy of 2009 with pre-petition assets of $10 billion or more

> The 30th public company bankruptcy of 2009 with pre-petition assets of $1 billion or more

> The 45th historic public company bankruptcy with pre-petition assets of $10 billion or more

> The 99th public company bankruptcy of 2009

> $344 billion is the total figure for 2009's combined pre-petition public company bankruptcy assets

> 62,000 union-represented U.S. employees

> 68 percent of its total 243,000 employees are represented by unions

> $61,000 is the number of employees represented by the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW)

> 377,000 U.S. hourly retirees

> 116,000 U.S. salaried retirees

> 3 million cars and trucks sold by GM in the U.S. in 2008 -- 22.1 percent of total car and truck industry sales

> 8 million cars and trucks sold by GM worldwide in 2008 -- 12.4 percent of total car and truck industry sales

> $31 billion is GM's reported net loss for 2008

[Source: BankruptcyData.com]

GM Government Funding per Job:

Government bailout funds

> Pre-bankruptcy TARP bailouts: $19.4 billion

> Reported bankruptcy assistance: $30.1 billion

TOTAL: $49.5 billion

GM jobs

> At December 31, 2008, GM employed 243,000 employees (with 116,000 of these employees working for GM North America)

[source: GM 2008 Form 10-K, http://www.sec.gov/Archives/edgar/data/40730/000119312509045144/d10k.htm]

Government bailout funds per job

> $203,703.70 per GM employee

> $426,724.14 per GM North American employee

Tags: bailouts

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